Stockholm-listed online gambling group, LeoVegas AB has confirmed the appointment of Stefan Nelson as new Chief Financial Officer.
The firm expects Nelson to takeover full group CFO responsibilities on 22 August, when current incumbent Viktor Fritzén end his tenure as Leo Vegas financial lead, joining the firm’s senior executive advisory.
A 20-year finance veteran, Nelson has prior experience in gaming, media and retail capital funding, having held senior executive positions at Swedish investment firm Skandinaviska Enskilda Banken – SEB Group AB (2007-2018).
Updating investors, Gustaf Hagman, Group Chief Executive of LeoVegas AB commented on the leadership appointment;
“I am extremely pleased to recruit Stefan Nelson as new CFO to LeoVegas. With his deep expertise in finance and a sense of both the business and the gaming industry, combined with having been Sweden’s most renowned gaming analyst, Stefan will be an addition to the management team and my right hand. Stefan’s broad and deep knowledge within M&A will also be an asset to us in the future. Furthermore, I was looking for a person who has a unique feeling for numbers and the ability to see them in the right context. That is a gift Stefan has.”
In its 2018 update, Hagman and LeoVegas governance presented the firm’s ‘2020 enterprise vision‘ targeting ‘€600 million in annual group revenues, combined with a corporate EBITDA of €100 million’.
Nelson joins LeoVegas executive team as the company expands its presence within the UK and German markets, having completed a series of strategic acquisitions.
Commenting on joining LeoVegas AB, Stefan Nelson stated; “I think it will be incredibly stimulating to start working at LeoVegas, which is one of the fastest growing companies on the Stockholm Stock Exchange. In my role at SEB, I led LeoVegas’ IPO in 2016, and have been familiar with the company and management team ever since. LeoVegas has impressively achieved a leading position in a large and fast-moving industry that is still in an early development phase. I am deeply impressed by the company’s unique corporate culture, which is perhaps the most important explanation for its success. And I look forward to being part of and contributing to the continued growth journey that Gustaf and his team have set out for the future”